China’s April CPI increases 2.4%; PPI declines 2.6%

09 May 2013 03:52[Source: ICIS news]

SINGAPORE (ICIS)--China’s consumer price index (CPI) increased by 2.4% year on year in April, while up by 0.2% month on month because of increasing vegetable prices, official data from the country’s National Bureau of Statistics (NBS) showed on Thursday.

The average level of CPI during January to April also increased by 2.4% year on year, the data showed.

“CPI data increased in April mainly because of surging fresh vegetables prices in line with tight supply,” said Yu Qiumei, a senior statistician from NBS.

Fresh vegetable prices increased largely by 11.2% month on month, because temperatures and precipitation were lower than the same period of previous years, leading to lower production and hence tight supply of fresh vegetables, said Yu.

Meanwhile, NBS also announced the producer price index (PPI) declined by 2.6% year on year and down by 0.6% month on month.